Assenagon Asset Management S.A. Buys New Position in Fonar Co. (NASDAQ:FONR)

Assenagon Asset Management S.A. bought a new stake in shares of Fonar Co. (NASDAQ:FONR) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,260 shares of the medical equipment provider’s stock, valued at approximately $283,000.

Several other institutional investors have also made changes to their positions in the stock. Goldman Sachs Group Inc. raised its holdings in shares of Fonar by 6.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 15,400 shares of the medical equipment provider’s stock valued at $303,000 after acquiring an additional 908 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in Fonar by 3.0% in the first quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 48,100 shares of the medical equipment provider’s stock worth $703,000 after purchasing an additional 1,400 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Fonar by 9.1% in the first quarter. Two Sigma Advisers LP now owns 18,000 shares of the medical equipment provider’s stock worth $263,000 after purchasing an additional 1,500 shares in the last quarter. Citigroup Inc. raised its holdings in Fonar by 182,300.0% in the first quarter. Citigroup Inc. now owns 1,824 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 1,823 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Fonar by 27.0% in the first quarter. Invesco Ltd. now owns 16,469 shares of the medical equipment provider’s stock worth $241,000 after purchasing an additional 3,501 shares in the last quarter. Institutional investors own 50.24% of the company’s stock.

Separately, ValuEngine downgraded Fonar from a “buy” rating to a “hold” rating in a report on Friday, May 22nd.

FONR opened at $24.62 on Friday. The stock has a fifty day simple moving average of $22.65 and a two-hundred day simple moving average of $19.91. The company has a current ratio of 6.14, a quick ratio of 6.02 and a debt-to-equity ratio of 0.22. The company has a market cap of $158.80 million, a price-to-earnings ratio of 14.07 and a beta of 1.09. Fonar Co. has a 12-month low of $11.00 and a 12-month high of $25.99.

Fonar (NASDAQ:FONR) last posted its quarterly earnings data on Monday, May 11th. The medical equipment provider reported $0.18 earnings per share (EPS) for the quarter. Fonar had a return on equity of 9.35% and a net margin of 13.16%. The business had revenue of $21.69 million during the quarter.

Fonar Company Profile

FONAR Corporation, together with its subsidiaries, operates as a magnetic resonance imaging (MRI) company primarily in the Unites States. It is involved in the research, development, production, and marketing of medical scanning equipment, which uses principles of MRI for the detection and diagnosis of human diseases, abnormalities, other medical conditions, and injuries.

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Institutional Ownership by Quarter for Fonar (NASDAQ:FONR)

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